INTERNATIONAL BRIEFS; Swedish Packaging Deal By Rexam of Britain

Rexam P.L.C. of Britain said yesterday that it had offered $:380 million in cash ($625 million) for PLM A.B., the Swedish-based consumer packaging group. The bid values PLM at 5.13 billion Swedish kronor. The offer is supported by Industrivaerden A.B., PLM's largest shareholder, which has unconditionally agreed to sell its 23 percent stake in PLM to Rexam at the offering price.

The purchase would enable Rexam to accelerate the European expansion of its packaging businesses, the company said. The acquisition is expected to make Rexam one of the top 10 consumer packaging companies in the world.